Earlier quoted context omitted.
Sure, but you would think that P2P is mostly sufficient for a social media replacement (e.g. PeerTube, Mastodon, etc.). Consensus is only really nessisary for solving problems like payments or namespacing (e.g. namecoin)
> Consensus is only really nessisary for solving problems like payments or namespacing (e.g. namecoin) Those are the only credible use-case(s) that the cryptocurrency folks should be looking at. I can see a few projects surviving like Stellar [0], Ripple (XRP) [1], Algorand [2] and Nano [3], ENS [4], Handshake [5] and Skiff [6]. Unlike the other projects that are slapping blockchain, crypto on to anything they can fi…
Bitcoin itself was a genuine attempt at peer to peer cash too.
Problem is the technology sucks and can’t scale. The trade offs are immense. DNS works great and is decentralised in all the meaningful ways. Nano network is currently struggling cos of one script kiddie, and puts everyone’s bank balance out there for the world to see.
Honest intentions and even innovative ideas are all well and good. But replacing the current financial system, or DNS or whatever is a massive technical challenge.
The trade offs in efficiency, scalability, even privacy with blockchain solutions, just to get decentralisation, are far too high.